Posted on 20 April 2011

Back in January we mentioned that on the success of his Exceptional Value Fund, not to mention topping Bloomberg‘s list for Top Emerging Market Fund andbeing the recipient of the first annual Michael Vick Career Resurrection Award of Excellence, Ping Jiang was launching a new vehicle called the Ping Emerging Markets Macro Fund, “targeting a lower vol and focussing on short term trading.” Here’s how the PEMM Fund is doing so far.

Posted on 31 March 2011

I mean, if your parents give you a name like Jesse Jo, you pretty much need to be able to do one of two things: 1. Be a rockstar or 2. At least pretend to be one. In this particular case, Jesse Jo Stark, daughter of married Chrome Hearts design duo Richard and Laurie Lynn Stark proves she is the real deal. Let’s observe through a photo journey of the eclectic crowd at her performance this week, shall we? Read the full story

Posted on 31 March 2011

I mean, if your parents give you a name like Jesse Jo, you pretty much need to be able to do one of two things: 1. Be a rockstar or 2. At least pretend to be one. In this particular case, Jesse Jo Stark, daughter of married Chrome Hearts design duo Richard and Laurie Lynn Stark proves she is the real deal. Let’s observe through a photo journey of the eclectic crowd at her performance this week, shall we? Read the full story

“This year finds the S.E.C. at an especially critical juncture in its history,” Schapiro said in written testimony prepared for the Senate Banking Committee’s panel on securities, insurance and investment. “Dodd-Frank will require significant additional resources or a substantial reduction in the performance of our core duties.” The law granted the S.E.C. broad new authority over credit rating agencies, the vast and complex derivatives markets and — for the first time — many hedge fund advisers. Among other mandates of the Dodd-Frank Act, the S.E.C. is supposed to write more than 100 new rules, open five new offices and publish more than 20 studies. Quite simply, Ms. Schapiro said, the law has “added significantly to the S.E.C.’s workload.”

Yet the agency’s budget remains frozen at $1.1 billion…The Obama administration has proposed raising the agency’s budget by $264 million, to $1.4 billion for 2012. The Dodd-Frank law requires the S.E.C. to offset its entire budget by collecting fees on securities transactions. That means the agency’s funding would not cost taxpayers a dime, Ms. Schapiro said. The administration’s proposed funding increase would allow the S.E.C. to hire 780 people, 60 percent of which would be assigned to Dodd-Frank mandates, according to her testimony. Ms. Schapiro said the agency needs more than 100 new staff members just to focus on hedge funds. The requested increase is “designed to provide the S.E.C. with the resources required to achieve several high-priority goals,” she said.